Published: 18th December 2019.
Written by Melinda Irvine
Fronting up to your boss and asking them for a raise can be an unnerving experience. But if you go in with the right game plan, you might be able to increase your chances of getting a boost in your account each payday.
Ready to ask your boss for a raise? Here are five tips to help you land the pay packet that you deserve.
Numbers don't lie
One of the best things you can do when asking for a raise is provide proof that the number for which you're asking isn't unreasonable. There are plenty of tools, such as the Hays salary guide and job sites like Indeed or Seek that can give you the lowdown. The posting sites might require you to dig through some listings, but compiling such information can be even more compelling. Presenting your case by showing what competitors offer for your role is great support.
Be reasonable
While shooting high isn't bad, don't go over the top when asking for a raise. Definitely have a number in mind - hopefully one based on research per the tip above! However, being reasonable doesn't start and end with your salary number. Also be understanding about the timeframe. Prepare to discuss when new payment would go into effect and any backdating that might be possible.
What have you done for me lately?
Another part of your case should be about what you've achieved for the company. Have you hit some targets, KPIs or other goals? Did you lead a major project or implement a new process that helped solve a problem at your company? Have a list of accomplishments in your back pocket ready to rock.
What have you done for you (and therefore us) lately?
Attending development seminars and training programs and taking courses online can put you in a strong bargaining position when asking your boss for a raise. Such activities can help you enhance your skills or learn new things that make you even more valuable. For example, an online design and multimedia course can save your company money by not hiring outside vendors. And a leadership seminar can prepare you to guide your teammates through a big project. Even better, you just might be able to get your company to pay for your courses.
Look forward
While you don't have to tie your raise into any sort of contract that keeps you at the company, it might help if you can communicate future goals you have at work and how you see yourself in relation to your job in the coming months and years. Loyalty and investment in the work are music to bosses' ears.
As with many things in life, a lot of the hard work that goes into getting a raise comes before you have the chat. Make sure you're solid in these five areas and you just might get that coveted bump you're chasing.